AI assistant
Arlo Technologies, Inc. — Director's Dealing 2023
May 2, 2023
31778_dirs_2023-05-02_8d92516a-aa01-4c96-bc06-421af41a59ba.zip
Director's Dealing
Open in viewerOpens in your device viewer
SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: Arlo Technologies, Inc. (ARLO)
CIK: 0001736946
Period of Report: 2023-04-28
Reporting Person: MCRAE MATTHEW BLAKE (Director, CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2023-04-28 | Common Stock | M | 18940 | — | Acquired | 2317280 | Direct |
| 2023-04-28 | Common Stock | F | 9392 | $6.44 | Disposed | 2307888 | Direct |
| 2023-04-30 | Common Stock | F | 53785 | $6.44 | Disposed | 2254103 | Direct |
| 2023-04-30 | Common Stock | F | 89644 | $6.44 | Disposed | 2164459 | Direct |
| 2023-05-01 | Common Stock | A | 542404 | $0.00 | Acquired | 2706863 | Direct |
| 2023-05-01 | Common Stock | F | 268924 | $6.44 | Disposed | 2437939 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2023-04-28 | Performance Stock Units (PSUs) | $ | M | 18940 | Disposed | 2025-07-28 | Common Stock (18940) | Direct |
Footnotes
F1: Each performance stock unit ("PSU") represents a contingent right to receive one share of the Issuer's common stock. The performance rights vest upon the Issuer's common stock achieving both a time-based vesting condition and a stock price performance-based vesting condition, both of which conditions must be satisfied before any PSU vests.
F2: Shares withheld to satisfy the Reporting Person's tax obligation in connection with the vesting of the PSU.
F3: Shares withheld to satisfy the Reporting Person's tax obligation in connection with the vesting of restricted stock units ("RSUs").
F4: On April 30, 2020, the Reporting Person was granted a PSU based upon based upon the achievement of certain financial milestones during certain established performance periods over a period of three years, which was voluntarily reported on a Form 4 filed May 5, 2020. On May 1, 2023, the Board approved the achievement of the performance criteria, resulting in the grant of an RSU.
F5: This price reflects the fair market value at the end of the performance period which is the date used to calculate the Reporting Person's tax withholding.
F6: Represents the maximum number of shares remaining that may be issued pursuant to the PSUs.